TotalEnergies ENEOS expands partnership with major Vietnam shoemaker in solar rooftop system
TotalEnergies ENEOS has signed a long-term deal with Golden Victory Vietnam Co., a key supplier for globally renowned sportswear brands, to develop a 4.6 megawatt-peak (MWp) rooftop solar system at the latter's facility in the northern province of Nam Dinh.
The new deal will take the two sides’ total solarization system size to 7.5 MWp, TotalEnergies ENEOS said on Monday. Golden Victory Vietnam is one of the biggest shoe and footwear manufacturers in the country.
With over 7,900 modules, the rooftop system is expected to produce approximately 5,200 megawatt-hours of renewable electricity annually, realizing significant cost savings for Golden Victory and reducing the company’s carbon footprint by about 4,200 tons of carbon emissions annually, equivalent to planting over 62,000 trees, said TotalEnergies ENEOS.
Under the agreement, TotalEnergies ENEOS will fully fund, install and operate the solar system while Golden Victory will pay only for the electricity generated for 20 years, avoiding any upfront costs.
“In our last solar power project, the system has been running smoothly and the output power has been stable, contributing to our carbon emissions reduction,” said Catherine Liu, Golden Victory Vietnam Co. director.
TotalEnergies ENEOS Renewables Distributed Generation Asia is a 50/50 joint venture between global multi-energy company TotalEnergies and Japanese petroleum company ENEOS to develop onsite business-to-business solar distributed generation across Asia. It is headquartered in Singapore with a plan to develop 2 gigawatts of solar capacity over the next five years.
ENEOS operates more than 20 solar power plants in Japan and is participating in renewable energy projects in Vietnam, the U.S., and Australia. This joint venture is the Japanese firm’s first overseas renewable energy project using distributed power sources.
Installing rooftop solar panels on factories has become a trend among major foreign firms in Vietnam.
Packaging giant Tetra Pak has installed 5,900 square meters of rooftop solar panels on its Binh Duong province-based factory, reducing carbon emissions by 700 tons and generating 1,900 MWh of electricity a year.
The system was completed after six months of construction and is part of Tetra Pak’s commitments to reducing greenhouse gases towards net-zero emissions by 2030, Eliseo Barcas, managing director and president at Tetra Pak Vietnam, said in a release in March.
Agribusinesses De Heus Vietnam and Bel Ga JSC in early March signed agreements with Green Roof, a local rooftop solar power developer, to install rooftop solar power systems at their establishments in the next two years.
Under the deals, they will set up rooftop solar systems of up to 20 MWp at 30 facilities of the two agribusinesses in 19 cities and provinces of Vietnam.
China-based Jinko Solar Co., Ltd., one of the largest and most innovative solar module manufacturers in the world, is seeking to install rooftop solar power for projects in Song Khoai Industrial Park in northern Vietnam’s Quang Ninh province. Song Khoai Industrial Park, developed by Thailand's Amata Group, is scheduled to start operations in 2026.
- Read More
Nghiem Xuan Thanh appointed Party chief of Khanh Hoa province
Nghiem Xuan Thanh, Party chief of Hau Giang province, was appointed by the Politburo, the country’s supreme decision-making body, to be Khanh Hoa province’s Party chief for the 2020-2025 term.
Politics - Sun, November 3, 2024 | 7:45 pm GMT+7
Thailand seeks FTA negotiations with Eurasian Economic Union
Thailand is holding talks with Russia to expedite negotiations for a free trade agreement (FTA) with the Eurasian Economic Union (EAEU).
Southeast Asia - Sun, November 3, 2024 | 7:20 pm GMT+7
Indonesia attracts foreign investment in technology sector
As many as 19 Australian companies have expressed an interest in investing in Indonesia's technology sector, Communication and Digital Affairs Minister Meutya Hafid said on Thursday.
Southeast Asia - Sun, November 3, 2024 | 7:18 pm GMT+7
Robots work hard, don’t argue: Viettel exec counsels effective use of technology
Small businesses in logistics should look to use existing tools, software and technology solutions effectively, says Dinh Thanh Son, deputy CEO of Viettel Post.
Companies - Sun, November 3, 2024 | 4:30 pm GMT+7
Vietnamese multi-sector group Masan uses AI to forecast product sales: executive
AI has helped Masan Group forecast the number of items likely to be sold during peak season based on available data and to optimize product placement, says An Luong, head of the corporation’s artificial intelligence & data science division.
Companies - Sun, November 3, 2024 | 2:51 pm GMT+7
Vietnam needs large, specialized logistics centers to compete better: official
Vietnam needs large-scale, specialized logistics centers that will enable greater competitiveness of local economies and enterprises, says Tran Thanh Hai, deputy head of the Ministry of Industry and Trade's agency of foreign trade.
Economy - Sun, November 3, 2024 | 11:00 am GMT+7
Vietnam manufacturing sector sees 35% increase in Q3 job orders: Adecco
Vietnam’s manufacturing and sourcing sectors saw a substantial 35% year-on-year increase and a 52% quarter-on-quarter increase in Q3/2024 job orders, global workforce solutions provider Adecco said in a reseach report released Thursday.
Economy - Sun, November 3, 2024 | 9:00 am GMT+7
Construction majors to continue capitalizing on public investment projects
Vietnamese construction giants are expected to continue capitalizing on public investment projects for the remainder of this year after delivering strong performances in the third quarter, analysts say.
Companies - Sun, November 3, 2024 | 8:00 am GMT+7
Former Government Office chairman receives $7,900 bribe from property project
Mai Tien Dung, former Minister-Government Office Chairman, received a bribe worth VND200 million ($7,900) from Nguyen Cao Tri, owner of the Dai Ninh eco-resort and urban area project in Lam Dong province.
Society - Sat, November 2, 2024 | 9:13 pm GMT+7
Thai food giant CP enters public-private partnership to promote food system transformation
Thai-invested C.P. Vietnam Livestock JSC and the Partnership for Sustainable Agriculture Vietnam (PSAV) signed a memorandum of understanding Friday on working together to advance sustainable agriculture in the country.
Companies - Sat, November 2, 2024 | 7:16 pm GMT+7
Central Vietnam province Quang Ngai to begin work on new VSIP industrial park next year
Vietnam’s central province of Quang Ngai will work with the investor to have construction of VSIP II Quang Ngai, a facility based on the Vietnam-Singapore Industrial Park (VSIP) model, begin in August 2025.
Industrial real estate - Sat, November 2, 2024 | 3:47 pm GMT+7
Vietnam likely to grow 6.5% in 2024-2025: VinaCapital
VinaCapital, among the biggest foreign-run asset managers in Vietnam, has forecast the country’s economy to achieve 6.5% growth in both 2024 and 2025, with the composition of the expansion to change to more domestically driven factors next year.
Economy - Sat, November 2, 2024 | 2:00 pm GMT+7
Major Vietnamese developer Novaland appoints new CEO
Duong Van Bac, who joined Novaland as chief financial officer in August 2023, has been appointed general director, starting Friday.
Companies - Sat, November 2, 2024 | 10:24 am GMT+7
Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3
Ho Chi Minh City-based Bamboo Capital Group recorded an after-tax profit of VND331.2 billion ($13.1 million) in the third quarter of 2024, an astounding 36-fold expansion year-on-year.
Southeast Asia - Sat, November 2, 2024 | 9:41 am GMT+7
ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout
Vietnam Beverage, wholly owned by Thai Beverage (ThaiBev) will rake in VND1,374 billion ($54.26 million) worth of dividend from Ho Chi Minh City-based top brewer Sabeco.
Companies - Sat, November 2, 2024 | 9:13 am GMT+7
Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex
Leading Vietnamese steelmaker Hoa Phat had invested more than VND52.5 trillion ($2.08 billion) in its Dung Quat Iron and Steel Integrated Complex (Dung Quat 2) in the central province of Quang Ngai as of Q3/2024.
Industries - Sat, November 2, 2024 | 8:00 am GMT+7